Real Estate Watch – Brookland Home (3 Bed, 3 Bath) Sold For $500,000

This Brookland home sold yesterday for $500,000. But what is the real story here? On June 26th it was listed for $600,000, but clearly the market wasn’t ready for that, and it sat. On July 23rd the prBrookland Housing Market Heating Upice dropped to $525,000 and two days later it was under contract. Yesterday it finally came across as sold at $500,000.  After looking through the photos of the home, it confirmed what I have been thinking for the past few months; the Brookland market is hot, but still, homes in the $600,000 – $700,000 range better be spectacular. Don’t get me wrong – this is a great house. It has obviously been well cared for, has really nice outdoor spaces, and a garage!  The problem is that it was built in 1980 and it looks like it hasn’t been updated since. With so much “home flipping” and new developments popping up, it would be hard to compete with brand new fixtures, and sparkling granite countertops.

3 thoughts on “Real Estate Watch – Brookland Home (3 Bed, 3 Bath) Sold For $500,000”

  1. I totally get it that location matters. Location to Metro, nightlife, etc, etc is important but when I compare the house above with one in the 900 blk of Florida Ave Nw which by the was is a 2 bedrm/1 bath and recently sold for $515 after being on the market for 4 days…that I don’t get that. Alas, Brookland continues to be filled with hidden real estate gems.

    the link to the Florida Ave house:
    http://www.princeofpetworth.com/2012/06/gdon-revisited-by-hipchickindc-976-florida-ave-nw/

  2. Hi Rick, no problem, typos happen 🙂 Thanks for that listing – wow! The tiny $515,000 property doesn’t even have a basement! The Brookland home has a finished basement with a BAR! I searched the listing but I didn’t see the $ per sq foot, and it is too early in the day to try and calculate it. But, I would suspect that comparing the $ per sq foot of the two properties would be telling and dramatic. I guess it comes down to whether you prefer living very close to loud nightlife or the peaceful setting of the Monastery and Howard Divinity School. I think this what sets Brooklanders apart, we are city people who would prefer the latter. (Hopefully we will have some of the nightlife too, though.)

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